GBPUSD and EURUSD trade close to yearly lows; Fears on Chinese growth as Omicron spreads as investors shift to safe-haven currencies. Macron defeated Le Pen in French Election.
-
FX Rates
April 25, 2022Rates are not real time. Rates are today's indicative mid-market rates as of time of publishing, which may vary. Please contact SVB for a current quote.
Source: BloombergGBP/USD 1.2749 GBP/EUR 1.1874 EUR/USD 1.0738 USD/CAD 1.2728 EUR/CHF 1.0282 EUR/SEK 10.3349 EUR/NOK 9.6817 EUR/DKK 7.4400 USD/ILS 3.2731 AUD/USD 0.7192 NZD/USD 0.6625 USD/SGD 1.3743 USD/JPY 128.21 USD/CNH 6.5823 USD/INR 76.6313 EUR/ILS 3.5145 GBP/ILS 4.1729 USD/ZAR 15.6552
-
GBP
GBPUSD trades lower by -0.7% following covid uncertainty.
UK police continue their investigation into ‘party gate’ as the PM continues to tread the line. His support amongst backbench tory MPs has begun to waver.
Asking prices for UK homes have hit a record high, driven by a shortage of property on the market.
EUREURUSD has fell -0.81% in its worst day this month. This comes despite positive results from the French presidential election with Macron beating Le Pen in the second round. The euro is at its weakest against the dollar in a year.
ECB President, Lagarde, has described European inflation challenges as a ‘different beast’ to that seen in the US. This comes as monetary policy divergence continues to weaken the euro against the dollar.
USDThe dollar is climbing following covid reports from China, the risk-off sentiment is leading investors towards the safe-haven dollar. The DXY trades up 0.43% as we print.
Bloomberg’s recession-probability model suggests the chance of a recession within the next 12 months is close to zero.
ASIA/PACIFICChina has continued with its zero covid policy sending shockwaves through global markets. Omicron cases have been surging, with record fatalities reported in Shanghai. With covid darkening the growth outlook for the world’s second largest economy, the market has taken a risk-off position, with equities falling worldwide and significant moves in currency markets.
The news from China has impacted commodities, with Iron down -7%. The CSI fell almost -5% during the Asian session.
ILSUSDILS trades down -0.09%, the pair still trades near its monthly high, up 1.5% from last month.
Data & EventsUK CBI April Business Optimism.
Euro-area Feb. Construction Output
Risk Statement
Trading in financial instruments may involve a high degree of risk and may not be suitable for all investors. Trading in financial instruments can result in both loss and profit. Investors should carefully consider whether financial instruments suit their needs, financial resources and personal circumstances.
The information contained in this material is solely for informational purposes only and it is not and should not be construed as an offer or a solicitation of an offer to buy or sell any financial instruments and cannot be relied upon as a representation that any particular transaction necessarily could have been or can be effected at the stated prices. This material does not contrue advice.
For more analysis on FX markets or information regarding SVB's FX services:
0800 023 1440 from within the UK
+44 207 367 7880 from overseas
See all of SVB's latest FX information and commentary.
| Source: Bloomberg | |
© 2023 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB). Silicon Valley Bank is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Silicon Valley Bank is a subsidiary of SVB Financial Group, a Delaware corporation and is an affiliate of SVB Financial Group UK Limited. SVB Financial Group UK Ltd is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK under No. 5572575 and is authorised and regulated by the Financial Conduct Authority, with reference number 446159. SVB Financial Group and its subsidiary Silicon Valley Bank are members of the Federal Reserve System and Silicon Valley Bank is a member of the FDIC. Your eligible deposits with Silicon Valley Bank UK are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. Please click here for further information or visit http://www.fscs.org.uk. For more detailed information about coverage and limits, please review our FSCS Information Sheet at http://www.fscs.org.uk. This material, including without limitation the statistical information herein, is provided for informational purposes only. The material is based in part upon information from third-party sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete. The information should not be viewed as tax, investment, legal or other advice nor is it to be relied on in making an investment or other decisions. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction. Foreign exchange transactions can be highly risky, and losses may occur in short periods of time if there is an adverse movement of exchange rates. Exchange rates can be highly volatile and are impacted by numerous economic, political and social factors, as well as supply and demand and governmental intervention, control and adjustments. Investments in financial instruments carry significant risk, including the possible loss of the principal amount invested. Before entering any foreign exchange transaction, you should obtain advice from your own tax, financial, legal, accounting and other advisors, and only make investment decisions on the basis of your own objectives, experience and resources. Opinions expressed are our opinions as of the date of this content only. The material is based upon information which we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such. |